In March, soybean exports from Ukraine increased to 417,000 tons

5 April 2023

In March 2023, Ukraine exported the largest volume of soybeans since the beginning of the current season, compared to February exports increased by 90,000 tons.

During the seven months of the new season from September 2022 to March 2023, Ukraine exported 2.35 million tons (of which about 0.5 million tons is the 2021 harvest, the rest is the 2022 harvest).

If we compare the export figures with the last season, we have quite a significant growth - in the same period of the last season (September 2021 - March 2022), Ukrainian soybean exports made only 923 thousand tons.

The monthly dynamics of Ukrainian soybean exports during the last two seasons is shown in the following graph:

Ukrainian soybeans export March 2023

The main reasons for the increase in Ukrainian exports are an increase in the total soybean harvest in 2022 to 3.7 million tons (which is the highest indicator since 2017), as well as large leftover soybeans from the 2021 harvest.

So far, total soybean exports for the current season have already exceeded our initial expectations for total exports for the entire season, so we continue to increase our estimates for total soybean exports from 2.5 million tons to 2.8-3 million tons.

The export of soybean oil in March increased by 4,000 tons compared to last month and amounted to 29,000 tons.

Taking into account the export performance of soybeans, its offer for processing continues to decrease, which is a negative factor for.

Astarta and MHP remain the largest soybean processors in Ukraine.